Hosmer Street hotel property set to flip to affordable apartments, records show
Another hotel along South Hosmer Street is on track to switch to affordable apartments, according to plans filed April 21 with the City of Tacoma.
Developers with Hotel Thea Tacoma, 7414 S. Hosmer St., have submitted plans for a $2.45 million conversion for 132 units, tentatively set to start in June, depending on permitting speed.
The hotel, a former Shilo Inn, was sold in December 2017 by Shilo Inn Tacoma LLC to Param Tacoma LLC, affiliated with a group of Pacific Northwest hotel investors, for $8.1 million.
The building dates to 1985. It became Hotel Thea Tacoma in 2021.
A person listed in the hotel LLC’s filings with the state and a project contractor listed in the permit filing did not respond to requests for comment.
The News Tribune reported in August 2022 that, at that time, five former motels on South Hosmer Street had sold since June 2021, poised to transition into affordable housing as hotel owners struggled with crime on site and in the immediate vicinity.
The Thea Tacoma plans follow other planned conversions, including the March sale of the American Lodge/Travelodge property, 8702 S. Hosmer St., and another flip announced in October for Motel 6, 1811 S. 76th St., just off South Hosmer Street. Both properties are owned by Sage Investment Group of Kirkland and Richland.
This story was originally published April 26, 2023 at 5:30 AM.
